The Gold Souk is a representation of Arab culture and is symbolic of the grandeur of Dubai.
This Souk is located in the heart of the city's commercial district, Deira. It lies north of the Dubai fish and vegetable markets, with both road and water access. The Souk has grown by leaps and bounds since its inception in the 1900s. From just a few traders, it recorded its first-ever notable growth during the 1940s and 1950s, when Dubai's free trade policy paved the way for traders from India and Iran to set up shops in Dubai.
Once you enter the Souk, you will steer through a labyrinth of covered walkways that are home to over 300 gold retail stores which mostly trade in jewellery. Window after window is hung with racks of gold ornaments that are a feast for the eye. Hundreds of vendors ensure that you are never out of choices, with unique pieces, statement gemstones and alluring Arabic designs that will leave you awestruck. The Souk offers a stunning collection of 18, 21, 22 and 24 carat gold jewellery such as earrings, rings, necklaces, bangles, bracelets and pendants. The cacophony, colors and chaos in the atmosphere make the Souk even more dazzling.
If your eyes ever get tired of the yellow glitter and shimmer of gold, you will find white, pink and green gold as well. If stats are to be believed, there are at least 10 tons of gold present in the Souk at any given time. The Dubai Gold Souk also trades in precious metals like platinum and silver, and stones like diamonds, rubies, emeralds etc.
Gold is offered at competitive prices that are fixed at the start of day, based on the weight and the daily gold rate. The weight element of the price is non-negotiable but workmanship is negotiable. Haggling over prices is an accepted tradition of shopping at the Dubai Gold Souk. Strict government regulations ensure that the gold meets international quality standards, so you can rest assured that your purchases are genuine. If you're planning a major purchase you can use a credit card, but paying by cash will get you better discounts.
The best time to visit the Gold Souk is in the late afternoon when the weather is cooler. Thursday and Friday evenings are the busiest. These are great times to witness the souk trading at full throttle.
Even if you have no intention of buying, the Dubai Gold Souk is worth a visit. It is a temptation that's hard to resist. Because at the Dubai Gold Souk, all that glitters is truly gold.